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TAINTED AUDIT FIRMS
- Mahindra Satyam's suit against former managers to set a useful precedent
The move sets a precedent for corporate India to deal with such frauds in future and is, therefore, welcome.
- ICAI asks govt to stop giving projects to tainted audit firms
Accounting regulator ICAI has asked the government to stop giving assignments to tainted audit firms, a move that would discourage wrong do...
- 'Big four audit firms bending laws in India'
A committee of accounting and auditing regulator ICAI has said that the global Big Four auditing firms are circumventing laws while providi...
We didn't audit Satyam: PwCThe questioning of Ramesh Rajan, chairman and CEO of PricewaterhouseCoopers, India (PwC) by CBI last week, has revealed that the Satyam bal...
- Finmin mulls Satyam special audit, seeks SFIO report
The Finance Ministry is evaluating options of conducting a special audit of scam-tainted IT firm Satyam Computer's accounts to ascertain th...
- Former PW partners' bail plea dismissed
The bail pleas of former PriceWaterhouse parters S Gopalakrishnan and Talluri Srinivas, have been dismissed by a local court here.
Satyam seeks time upto June 30 for reporting Q3 resultsSatyam will miss the March 31 deadline for reporting its third quarter results for FY 09. A formal letter has been sent to the stock exchan...
- Satyam seeks more time for reporting Q3 results
Tainted Satyam Computer Services will miss the March 31 deadline for reporting its third quarter results for FY 09.
- Maytas suggests CLB-appointed director on company's board
Maytas Properties suggested that the Company Law Board should appoint a director on its board or put an observer, who would report directly...
Satyam account cleaning to take six monthsA 30-member team from Chennai-based Brahmaiah & Company, appointed as the internal auditor, is going through the accounts
ICAI blocks KPMG's Satyam assignmentICAI is of the view that the firm cannot carry out audit work in India since it is not registered here.
- Satyam's Rs 5,000 cr cash disappeared in a quarter
Bank statements show that Satyam had funds of over Rs 5K cr as of Sept '08, but by Jan '09 the firm could have been left with Rs 200 cr of ...
Satyam: Investigators look into the role of internal audit teamInvestigating agencies are examining role of 30-odd member internal audit team, even as board has named Chennai based Brahmayya & Co. Raju ...
- No real action against auditors
Despite serious questions over the gross lapses in auditing in Satyam, auditing regulator Institute of Chartered Accountants of India (ICAI...
- ICAI to name audit firms avoiding proper norms
The Institute of Chartered Accountants of India (ICAI) said on Monday it would reveal to the public the names of audit firms that overlook ...
- Wary investors exit PwC clients
Tremors from the Satyam fraud are now being felt by many other listed companies who have one element in common with the ill-fated software ...
- PwC's fate Hangs in Balance
The falsification of accounts by Satyam for the past several years has put a question mark on the very survival of its auditor, Pricewaterh...